This article is from the Australian Property Journal archive
MORE than $22 million is expected for the Yarrum Agriculture almond aggregation in Victoria, which offers an early-stage horticulture opportunity for the purchaser.
Located in Red Cliffs, the 635-hectare Yarrum Agriculture includes two separate landholdings with a combined planted area of 317 hectares and a further 200 hectares suited for further development.
The aggregations, Wilga Road Farm at 971 Wilga Road and Ballinger Farm at 469 Wilga Road, were planted over 2021 and 2022 with a mix of Nonpareil, Carmel and Shasta. The trees planted in 2021 are currently being harvested with an expected yield of approximately 500 to 750 kilograms per hectare
CBRE Agribusiness’s Angus Bills, Matt Childs and John Harrison are managing the sale on a walk-in walk-out basis with plant and equipment to be negotiated throughout the sale process.
“Due to the recently developed orchard and quality irrigation and fertigation systems as well as the potential to further develop unplanted land, this aggregation will be well received by incoming purchasers,” Bills said.
“We’re expecting interest from current industry participants seeking to increase their scale and corporate agribusiness companies.”
Ballinger Farm has a new irrigation and fertigation infrastructure, supplying both Ballinger Farm and Wilga Road Farm via a 575-millimetre mainline along Wilga Road. The irrigation system is completely automated and is currently irrigating as a single shift, with an output of 0.6 millimetres per hour.
The expressions of interest campaign for the aggregation closes 14th March.
On the eve of Christmas, the Costa family, a number of other wealthy families and an institutional investor took part in a $120 million equity raising to fund the purchase of three NSW Riverina irrigation properties that will be converted into almond orchards.
